2011 Annual Report
Members Matter Most
(excerpt from Board of Directors Report)
At Member Savings Credit Union, we pride ourselves on delivering great service to our membership. Perhaps there is no better illustration of that than the dozens of members we helped in 2011 who were off work but their debts were kept current by disability benefits from our creditor insurance program. Similarly, the estates of deceased members were relieved of the burden of repaying mortgages and loans through the program’s death benefits. What sets us apart from other banking options is simple – it’s people helping people. We’re proud to be a caring financial institution.
Financially, Member Savings achieved another successful year in 2011. Net income continues to be strong and our capital position has been strengthened to its highest level ever. Liquidity – an all-important measure for financial institutions after the difficult market conditions over the last four years – is more than adequate to meet our financial obligations.
I will close by congratulating Sharon Kent, her management team and all the staff for managing the credit union so successfully and providing excellent service to our members. They have kept loan losses at a very low level and achieved an excellent level of profitability in a challenging economic environment.
On behalf of the Board, we appreciate the commitment and dedication of all our employees.
On behalf of the Board of Directors,
Robert Callander
Chair
